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Side-by-side financial comparison of Freeport-McMoRan (FCX) and Ivanhoe Electric Inc. (IE). Click either name above to swap in a different company.
Freeport-McMoRan is the larger business by last-quarter revenue ($5.3B vs $896.0K, roughly 5878.3× Ivanhoe Electric Inc.). Freeport-McMoRan runs the higher net margin — 10.7% vs -4500.4%, a 4511.2% gap on every dollar of revenue. On growth, Freeport-McMoRan posted the faster year-over-year revenue change (-10.4% vs -32.7%). Ivanhoe Electric Inc. produced more free cash flow last quarter ($-25.7M vs $-312.0M). Over the past eight quarters, Ivanhoe Electric Inc.'s revenue compounded faster (57.8% CAGR vs -7.9%).
Freeport-McMoRan Inc., often called Freeport, is an American mining company based in the Freeport-McMoRan Center, in Phoenix, Arizona. The company is the world's largest producer of molybdenum, a major copper producer and operates the world's largest gold mine, the Grasberg mine in Papua, Indonesia.
Ivanhoe Electric Inc. is a critical minerals exploration and development firm focused on metals for global electrification. It targets high-grade copper, gold, silver and strategic deposits, with primary North American operations, supplying raw materials to renewable energy, EV and power grid infrastructure supply chains worldwide.
FCX vs IE — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $5.3B | $896.0K |
| Net Profit | $565.0M | $-40.3M |
| Gross Margin | 12.4% | 69.5% |
| Operating Margin | 15.4% | -4167.7% |
| Net Margin | 10.7% | -4500.4% |
| Revenue YoY | -10.4% | -32.7% |
| Net Profit YoY | -21.6% | -318.3% |
| EPS (diluted) | — | $0.24 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $5.3B | $896.0K | ||
| Q3 25 | $6.8B | $545.0K | ||
| Q2 25 | $7.5B | $1.1M | ||
| Q1 25 | $5.6B | $735.0K | ||
| Q4 24 | $5.9B | $1.3M | ||
| Q3 24 | $6.7B | $671.0K | ||
| Q2 24 | $6.4B | $538.0K | ||
| Q1 24 | $6.2B | $360.0K |
| Q4 25 | $565.0M | $-40.3M | ||
| Q3 25 | $1.2B | $-17.5M | ||
| Q2 25 | $1.5B | $-23.9M | ||
| Q1 25 | $793.0M | $-34.1M | ||
| Q4 24 | $721.0M | $18.5M | ||
| Q3 24 | $1.2B | $-43.2M | ||
| Q2 24 | $1.3B | $-46.8M | ||
| Q1 24 | $1.2B | $-60.1M |
| Q4 25 | 12.4% | 69.5% | ||
| Q3 25 | 29.2% | 51.2% | ||
| Q2 25 | 34.2% | 72.5% | ||
| Q1 25 | 24.3% | 60.1% | ||
| Q4 24 | 27.0% | 64.7% | ||
| Q3 24 | 30.0% | 61.8% | ||
| Q2 24 | 31.5% | 64.3% | ||
| Q1 24 | 28.5% | 72.2% |
| Q4 25 | 15.4% | -4167.7% | ||
| Q3 25 | 28.9% | -4328.3% | ||
| Q2 25 | 32.3% | -2400.3% | ||
| Q1 25 | 23.4% | -3674.0% | ||
| Q4 24 | 21.1% | -2229.4% | ||
| Q3 24 | 29.0% | -6233.8% | ||
| Q2 24 | 32.0% | -9023.4% | ||
| Q1 24 | 26.3% | -15800.3% |
| Q4 25 | 10.7% | -4500.4% | ||
| Q3 25 | 18.3% | -3214.9% | ||
| Q2 25 | 20.6% | -2233.2% | ||
| Q1 25 | 14.2% | -4645.0% | ||
| Q4 24 | 12.3% | 1386.6% | ||
| Q3 24 | 18.5% | -6443.5% | ||
| Q2 24 | 20.0% | -8695.7% | ||
| Q1 24 | 18.7% | -16693.1% |
| Q4 25 | — | $0.24 | ||
| Q3 25 | $0.46 | $0.13 | ||
| Q2 25 | $0.53 | $0.18 | ||
| Q1 25 | $0.24 | $0.24 | ||
| Q4 24 | — | $-0.14 | ||
| Q3 24 | $0.36 | $0.36 | ||
| Q2 24 | $0.42 | $0.39 | ||
| Q1 24 | $0.32 | $0.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.8B | $173.3M |
| Total DebtLower is stronger | $9.4B | — |
| Stockholders' EquityBook value | $18.9B | $416.1M |
| Total Assets | $58.2B | $483.3M |
| Debt / EquityLower = less leverage | 0.50× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8B | $173.3M | ||
| Q3 25 | $4.3B | $69.5M | ||
| Q2 25 | $4.5B | $88.0M | ||
| Q1 25 | $4.4B | $98.2M | ||
| Q4 24 | $3.9B | $41.0M | ||
| Q3 24 | $5.0B | $81.1M | ||
| Q2 24 | $5.3B | $133.8M | ||
| Q1 24 | $5.2B | $179.4M |
| Q4 25 | $9.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $9.4B | — | ||
| Q4 24 | $8.9B | — | ||
| Q3 24 | $9.7B | — | ||
| Q2 24 | $9.4B | — | ||
| Q1 24 | $9.4B | — |
| Q4 25 | $18.9B | $416.1M | ||
| Q3 25 | $18.7B | $280.1M | ||
| Q2 25 | $18.2B | $293.3M | ||
| Q1 25 | $17.7B | $307.0M | ||
| Q4 24 | $17.6B | $268.6M | ||
| Q3 24 | $17.5B | $250.1M | ||
| Q2 24 | $17.4B | $289.2M | ||
| Q1 24 | $17.0B | $331.5M |
| Q4 25 | $58.2B | $483.3M | ||
| Q3 25 | $56.8B | $386.2M | ||
| Q2 25 | $56.5B | $400.5M | ||
| Q1 25 | $56.0B | $414.4M | ||
| Q4 24 | $54.8B | $374.9M | ||
| Q3 24 | $55.4B | $375.4M | ||
| Q2 24 | $54.6B | $416.3M | ||
| Q1 24 | $54.2B | $461.2M |
| Q4 25 | 0.50× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.55× | — | ||
| Q2 24 | 0.54× | — | ||
| Q1 24 | 0.56× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $693.0M | $-25.7M |
| Free Cash FlowOCF − Capex | $-312.0M | $-25.7M |
| FCF MarginFCF / Revenue | -5.9% | -2872.8% |
| Capex IntensityCapex / Revenue | 19.1% | 4.1% |
| Cash ConversionOCF / Net Profit | 1.23× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $-90.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $693.0M | $-25.7M | ||
| Q3 25 | $1.7B | $-27.7M | ||
| Q2 25 | $2.2B | $-20.0M | ||
| Q1 25 | $1.1B | $-15.8M | ||
| Q4 24 | $1.4B | $-30.7M | ||
| Q3 24 | $1.9B | $-36.9M | ||
| Q2 24 | $2.0B | $-44.5M | ||
| Q1 24 | $1.9B | $-50.0M |
| Q4 25 | $-312.0M | $-25.7M | ||
| Q3 25 | $608.0M | $-27.8M | ||
| Q2 25 | $934.0M | $-21.3M | ||
| Q1 25 | $-114.0M | $-15.8M | ||
| Q4 24 | $197.0M | $-32.4M | ||
| Q3 24 | $673.0M | $-36.9M | ||
| Q2 24 | $840.0M | $-45.0M | ||
| Q1 24 | $642.0M | $-50.6M |
| Q4 25 | -5.9% | -2872.8% | ||
| Q3 25 | 8.9% | -5103.9% | ||
| Q2 25 | 12.4% | -1990.1% | ||
| Q1 25 | -2.0% | -2146.5% | ||
| Q4 24 | 3.4% | -2432.4% | ||
| Q3 24 | 10.1% | -5506.6% | ||
| Q2 24 | 13.1% | -8372.9% | ||
| Q1 24 | 10.3% | -14064.2% |
| Q4 25 | 19.1% | 4.1% | ||
| Q3 25 | 15.5% | 16.9% | ||
| Q2 25 | 16.8% | 117.6% | ||
| Q1 25 | 21.0% | 0.3% | ||
| Q4 24 | 21.1% | 127.3% | ||
| Q3 24 | 17.9% | 8.8% | ||
| Q2 24 | 17.4% | 93.7% | ||
| Q1 24 | 20.2% | 186.7% |
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.33× | — | ||
| Q2 25 | 1.42× | — | ||
| Q1 25 | 1.33× | — | ||
| Q4 24 | 1.99× | -1.66× | ||
| Q3 24 | 1.51× | — | ||
| Q2 24 | 1.53× | — | ||
| Q1 24 | 1.63× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FCX
| Morenci | $2.5B | 47% |
| Grasberg Segment | $964.0M | 18% |
| Copper In Concentrates | $934.0M | 18% |
| Molybdenum | $541.0M | 10% |
| Gold | $388.0M | 7% |
IE
Segment breakdown not available.
